FBK Legal News

RBK daily reports that Rossiyskiy Kredit Bank disclosed detailed structure of its ownership, indicating all companies constituting this complexed chain. The final owner of the bank is, as it used to be considered earlier, a famous entrepreneur, Bidzina (Boris) Ivanishvilli. According to the publication, actually, Mr. Ivanishvilli owns Rossiyskiy Kredit (99,61497%) through almost twenty different which major part is registered in off-shores.
 “This is a classical structure for entities established in 90-s, when one off-shore company owns another and so on”, noted Alexander Sotov, Head of FBK-Legal Financial Investigations Practice. According to him, then it was easier to repatriate profit. The expert explained that a number of small entities were required to direct financial flows not in a large lump-sum, but in several smaller ones.